Over the past two decades, digitization, technology, and software have contributed to the life sciences industry’s rapid disruption. However, this was just the beginning of pharma’s data and software-led transformation. Hear Jassi Chadha, President, and CEO of Axtria, explain how data, artificial intelligence (AI), and software will become the industry’s primary disruption drivers as data variety, volume, and velocity continue growing. Whether companies succeed in 2025 and beyond will depend on how well they leverage AI and analytics for deriving valuable, data-driven insights. Tune in as Jassi describes how years of digitization at Moderna wired the company to lead the COVID-19 vaccine race and what the Pfizer-Israel deal reveals about the companies’ access to data.
In This Episode, We Cover:
- [02:30] The disruptions in the past two decades and their primary drivers.
- [04:40] The role of data, artificial intelligence, and software in disrupting the future industry.
- [07:00] The evolution of business needs and models; pharma and life sciences companies’ need for intelligence systems.
- [11:20] Moderna’s digital edge which leads to their rapid vaccine development
- [15:10] Jassi thoughts on Israel’s datadeal with Pfizer
- Companies must lead with AI to stay relevant going forward as data volume, variety, and veracity increase. Decision accuracy and velocity will become the most significant competitive advantage.
- As business and monetization models continue evolving rapidly, commercial success will depend entirely upon an organization’s data and software acumen. These two key components will lead to true digital transformation in the future.
- Moderna enabled their rapid vaccine development due to their digital-first approach and their ability to operate as both a technology and biology company. On the other hand, the Pfizer-Israel deal indicates the growing importance for life sciences to access data.
Meet Jassi Chadha:
Jassi is an entrepreneur, a highly regarded data scientist, and an influential thought leader in the rapidly-evolving data analytics and artificial intelligence (AI) fields. Jassi currently serves as the President and CEO of Axtria – one of the life sciences industry’s most prominent global players that serves clients in 75+ countries. Previously, Jassi was the co-founder and CEO of marketRx, which Cognizant Technology Solutions acquired.
Jassi is an advisor, board member, and investor in several companies and diverse organizations, including Ocular Therapeutics, SpectraMedix, Estee Advisors, New Jersey Technology Council, TiE Global, PAN IIT, Panjab Digital Library, and Sikh Research Institute. He is currently a member of the Second District Advisory Council of the Federal Reserve Bank of New York.
Some of the most aspirational lists have featured Jassi and his companies, including E&Y “Entrepreneur of the Year,” the Pharmaceutical Management Science Association (PMSA) “Life Achievement Award,” PharmaVOICE 100, Salesforce’s “Trailblazing Entrepreneurs,” Inc. 500, Deloitte, NJBIZ, SmartCEO, Future 50, Red Herring, and several other growth, product, culture, and technology awards.
- Jassi on LinkedIn: https://www.linkedin.com/in/jchadha/
- IDC’s Global DataSphere forecast shows continued steady growth in the creation and consumption of data [internet]. IDC, May 8, 2020 [cited Mar. 15, 2021]. Available from: https://www.idc.com/getdoc.jsp?containerId=prUS46286020
- Estrin D. Vaccines for data: Israel’s Pfizer deal drives quick rollout – and privacy worries [internet]. Jan 31, 2021 [cited Mar. 28, 2021]. Available from: https://www.npr.org/2021/01/31/960819083/vaccines-for-data-israels-pfizer-deal-drives-quick-rollout-and-privacy-worries
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